United Shipbuilding Corp. established

The establishment of the United Shipbuilding Corporation in Russia is now completed with a total of 33 companies in the field of ship design and shipbuilding included in the new grand state enterprise.

In a cabinet meeting this week, deputy prime minister Igor Sechin said nine construction bureaus and three regional shipbuilding centres are included in the new corporation. The western centre includes seven companies, while north-western five companies and the far eastern ten. The company incorporates both military and civil yards. Following a presidential decree of 30 March 2009, an additional four military yards will be included in the United Shipbuilding Corporation.

Company president Vladimir Pakhomov says the prime task of the shipbuilders will be a rapid and extensive modernization of production capacities, new technology and more efficient economic management. The charter funds of the company is 117 billion Rubles ($3.5 billion).